In May, 7,485 homes were sold through the Toronto Real Estate Board MLS system, the largest single month total in the Board’s 81 year history, TREB President David Pearce reported today.
“May’s results are astounding, up 27% over the same month last year, and well above the 6,607 sales recorded in March of 1988, which was our previous record.” Pearce attributed May’s results to a healthy economy and the wide array of product presently available. “With 22,569 listings on the market, there’s a home to suit nearly everyone’s taste and income bracket. This factor combined with low interest rates and high employment levels in Toronto, means that more and more homebuyers are flocking to the city of opportunity.”
Breaking down the total, 2,719 sales were reported in TREB’s 28 West districts and averaged $236,683; 1,193 sales were reported in the 14 Central districts and averaged $366,511; 1,525 sales were reported in the 23 North districts and averaged $269,162; and 2,048 sales were reported in TREB’s 21 East districts and averaged $205,498.